This residential property tax would be introduced by local authorities uncapped, which would give them the power to charge as much as they liked.
Changes have been ruled out by the Conservative Local Government Secretary, Eric Pickles, until at least 2015, but would bring this current taxation method up to date.
Homeowners aged over 55 years who are concerned about the property tax proposals and would like to know how much money the value of their property could release to increase their income, can find out by contacting
therightequityrelease.co.uk for equity release advice.